Verico Summit Mortgage Services Inc. 1.888.707.0883 or 705.645.8645

First mortgage or renewing soon?

First mortgage or renewing soon?

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Think outside the bank

Think outside the bank

Our rates are great, and our service? Invaluable.

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Your interests come first

Your interests come first

We shop all lenders and compare options

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First home or vacation getaway?

First home or vacation getaway?

Muskoka’s mortgage broker is here to help.

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Summit Mortgage has money for construction loans

Private Lending

Need out of the box thinking and money? Summit Mortgage gives you both — and more.


When you need money for your business or reasons other than a straight-forward mortgage, we have the expertise and money available to make it happen. We have exclusive partnerships with private investors to help fund everything from Construction and Equity Loans to New Business mortgages and more. When others scratch their heads, we find solutions, even in the most unusual circumstances. Here are some examples of how we’ve helped clients meet specific funding challenges quickly and with exceptional terms.

Construction Loans
Start Up Building Loans
Equity Loans with Fast Closings
Funds for Commercial Property
Second Mortgages to get Back on Track
Money for Business Expansion
Refinance Solutions

 Construction Loans

Challenge: Money for new cottage build.

Scenario: Our client had one cottage and wanted to build a new one on the existing waterfront lot.

Solution: Summit Mortgage registered a first mortgage with a max value and only advanced the amount needed to start the project. As the project moved ahead, we were able to continue to advance funds as needed – saving the client from substantial interest costs. This mortgage was for interest only and paid only on the advanced amount.

Challenge: Contractor needed start up construction funds.

Scenario: Our contractor client was building a semi-detached house. He had pre-sold one side and needed funds to get started.
But with no existing building as equity, lenders weren’t interested.

Solution: He contacted Summit Mortgage. We got him a construction loan
to the value of the sale so he could complete the whole home and close the sale of the other half.

Equity Loans with Fast Closings

We’ve had great success at providing mortgages quickly based on appraisals and very little proof of income.

Challenge: Opportunity was knocking for our client with an important business buy and he needed cash, fast.

Scenario: Our client had a big lake cottage that was mortgage free but needed to move fast so he came to us.

Solution: Summit Mortgage advanced 50% of the value of the property to him in time for him to act. The loan was in the high six figures and the terms were interest only. He repaid the loan in 6 months.

“Summit Mortgage helps hard-working self-employed people get access to money they deserve”

Funds for Commercial Property Buys

Challenge: Funds needed to secure new business purchase before principal residence sold.

Scenario: Our client had found a perfect property from which to run their business. They had not yet sold their principal residence and wanted to secured the new purchase.

Solution: Summit Mortgage used its private money to advance the purchase funds.  When the residence sold, he was able to move into the better location, pay us out, and remortgage at the best possible rate.

Funds for Business Expansion

Challenge: Money for business expansion – a new business division in a new location.

Scenario: Our client wanted to purchase an additional location for their business run a new division of their existing company.

Solution: Summit Mortgage financed 100% of the commercial property on the strength of their financials and additional blanketed security.

Refinance Solutions

Apartment Remortgage Refused by Bank

Challenge: Our self-employed client wanted to access equity from his owned apartment.

Scenario: The bank would not advance any additional money on the apartment.

Solution: Summit Mortgage delivered a second mortgage, which was used to upgrade the property. With the higher value, our client was  able to remortgage to the needed amount.

Appraisal Below Purchase Value

Challenge: Our client had a “rent to own” contract which they had been paying into for 3 years. When the time came to buy the property at the agreed price, the appraisal fell short of the purchase vale.

Solution: Summit Mortgage helped the client access municipal grants to complete his purchase as agreed. Staying up to date on District or Municipal grants as funding sources is another way we provide above and beyond financial service.

Renovation Roadblock Solved

Challenge: A slower than expected renovation was causing our client to be over extended, and they needed a financial boost.

Scenario: Our clients had been renovating their home slowly. Bills were piling up, yet the work needed to be completed. Because of the time the work was taking, their credit began to suffer and they had fallen below the bank’s acceptable credit ratings. They were in a tough spot.

Solution: Summit Mortgage gave the client a private second mortgage to pay off the existing credit debt, finish the renovations, and give them time to repair the damaged credit. We also gave them peace of mind. They know when their first mortgage comes up for renewal, we’ll be able to help them refinance the whole amount into one mortgage.

Need money? We’ve got money.

Ask us how can Summit Mortgage help you today.

Muskoka Cottage by Dave Nodwell

Want equity out of your cottage when opportunity knocks elsewhere? When you need money fast, we can help.